Capital gain
This query is : Resolved
26 December 2014
Sir,
In 1992 Property purchased in 1992 by father in law den by inheritance trf to husband(son) and wife in 2010 den in 2013 husband died den to wife in 2013 so how to do capital gain working.in 2013 which year indexation will be taken.?
In 1992 Property purchased in 1992 by father in law den by inheritance trf to husband(son) and wife in 2010 den in 2013 husband died den to wife in 2013 so how to do capital gain working.in 2013 which year indexation will be taken.?
26 December 2014
Indexation to be calculated from 1992.
26 December 2014
Dear Snehal, as per section 47 capital asset received under gift, will or impenitence are not regarded as transfer under section 47
Further,under section 49(1) cost of acquisition for the transaction refereed to section 47 also include cost to previous owner.
Further Also, as per section 2(42A) period of holding referred to section 47 also include holding of previous owner also.
Therefore, You Need calculate indexed cost of acquisition from 1992
Further,under section 49(1) cost of acquisition for the transaction refereed to section 47 also include cost to previous owner.
Further Also, as per section 2(42A) period of holding referred to section 47 also include holding of previous owner also.
Therefore, You Need calculate indexed cost of acquisition from 1992
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
